Loyalty Loop is the continued process of delivery sustainable value and customer experience to keep customers using the product and adopting new features.
Net Promoter Score (NPS) is a widely used market research metric. It typically takes the form of a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend. NPS is a great way to measure the loyalty of customers to a company. For more information about Net Promoter Score (NPS) please click here.
Net Revenue Retention Rate is a metric that calculates the percentage of revenue retained from existing customers over a specific period of time (usually monthly or yearly), including upgrades, downgrades, cross-sells, and cancellations.
Omni-Channel is an approach used to communicate with customers using a variety of channels. This can include social (Facebook, Instagram, Twitter), Traditional (email and text messages), or digital (chatbots, embedded forms). This will allow you to be where your customers are and increase customer loyalty.
To learn more about the difference between Omni-Channel check out this blog post.
Customer Loyalty is how supportive of a brand customers are and how likely they are to stay with one brand vs flip flopping to a competitor.
Personalization is a customer’s ability to personalize certain aspects of their purchase. In the digital world ensuring customers are able to customize their purchase can be incentive for a customer to finalize a purchase.
Product Champion is an individual or customer who is most engaged with your product, they will be very brand loyal and expects similar or better quality products from a brand.
Product Qualified Leads (PQL) refers to a prospect who has indicated they are interested in purchasing a product. This indication can be based on previous product interest, usage and behavioural data.
Prospect (User) Onboarding is how a prospect goes from initial signup to initial value to PQL status. It is intended to assist users in quickly becoming familiar with the product. It can including walking them through how to use a product.
Response Rate is what percentage of customers respond to a survey. This will let you know if it is quality research that you are able to use or if the sample size is too small.
Sample Size is a term used in market research term. It's used when a company surveys a percentage of their customer base. This data is then extrapolated to the entire customer base.